- The company will issue 38,200,000 common shares at a price of $0.72 per share for gross proceeds of approximately $27.5 million
- Talon will also complete a non-brokered private placement with Pallinghurst Nickel International for proceeds of approximately $6.4 million
- The offering and private placement are expected to close on or about January 31, 2022
- Net proceeds from the offering and private placement will be used for advancing its exploration and development program at the Tamarack North Project in Minnesota
- Talon Metals is a mineral exploration company
- Shares in Talon Metals Corp. (TLO) opened trading at C$0.75
A syndicate of underwriters has agreed to purchase 38,200,000 common shares of Talon Metals (TLO).
The company will issue 38,200,000 common shares at a price of $0.72 per share for gross proceeds of approximately $27.5 million.
Talon has granted the underwriters an over-allotment option to purchase up to an additional 5,730,000 shares at any time up to 30 days after the closing of the offering.
Concurrently with the closing of the offering, Talon intends to complete a non-brokered private placement of approximately $6.4 million of shares with Pallinghurst Nickel International Ltd.
Upon closing of the private placement, Pallinghurst will maintain its ownership of approximately 19 per cent of Talon Metals.
Net proceeds from the offering and private placement will be used for advancing its exploration and development program at the Tamarack North Project in Minnesota, and for general working capital purposes.
The offering and private placement are expected to close on or about January 31, 2022.
Talon Metals is a mineral exploration company engaged in the exploration and development of the Tamarack nickel-copper-cobalt project in Minnesota.
Shares in Talon Metals Corp. (TLO) opened trading at C$0.75.